WiRE News

£1.1 million enterprise fund for Herefordshire and Shropshire businesses - 24/11/11

A new enterprise grant fund designed to boost profits and bring budding ventures to life has been launched.


This fund aims to support 140 existing local businesses and help a further 160 people start up a new one.
The Shropshire and Herefordshire Business Enterprise Fund is supported by £1.1 million from the European Regional Development Fund which is managed by the Department for Communities and Local Government, and matched by the businesses themselves.


Over the next three years two types of grants worth between £1,500 and £5,000 will be on offer to businesses in Herefordshire who are looking to either get a new business off the ground or improve and boost an existing business.
Councillor Roger Phillips, Herefordshire Council’s cabinet member for enterprise and culture at Herefordshire Council said: “Shropshire and Herefordshire have declining rates of new businesses starting up and this was further impacted by the economic downturn where we witnessed more traditional sources of finance for businesses falling sharply.


“Through the new enterprise fund we can really start to help businesses in these areas seeking finance to improve their performance or get moving with new ideas,” he added.

You can download the application form HERE